5741 Virginia AVE, Los Angeles, CA 90038
5741 Virginia AVE, Los Angeles, CA 90038
5741 Virginia AVE, Los Angeles, CA 90038
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$3,995,000
Est. payment /mo
20 Beds
21 Baths
11,599 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 11,599 sqft

Price per Sqft $344

MLS Listing ID 26866075

Bedrooms 20

HOA Y/N No

Year Built 1967

Lot Size 0.344 Acres

Property Description

Available at only a 9.55 GRM based on current income and merely $190,238 per unit, the asset is priced attractively for a new investor. The current owner has thoroughly remodeled several units, while the exterior paint, roof coating, landscaping and driveway gate have all been recently updated. Select interiors have been upgraded with granite countertops, stainless steel appliances, wood flooring, new cabinets, and remodeled bathrooms. A new investor can enjoy strong cash flow free from any costly seismic retrofit repairs, as those have all been completed and filed with the city (Buyer to verify). Located near Sunset Boulevard, the property provides tenants with convenient access to several Hollywood destinations as well as the rest of the Los Angeles metro, via the nearby 101 Freeway. The exclusive Hancock Park neighborhood is only a few blocks southwest, while Koreatown and the Hollywood Walk of Fame are both nearby as well. The new 14-story ICON office tower, primarily leased to Netflix, was recently completed at the nearby Sunset Bronson Studios, while additional new construction is scheduled for Sunset Gower Studios, just one mile from the property. There, a joint venture between Hudson Pacific Properties and The Blackstone Group will be expanding the studio and office space, adding 620,000 square feet to the studio campus. The property is just north of Paramount Studios, the Hollywood Forever Cemetery, and Melrose Hill. The Melrose Hill neighborhood was recently named Los Angeles' Hottest Culinary Boom Town by Eater Los Angeles. Several exciting dining options have recently debuted in the immediate area, including Etra, Kuya Lord, Ggiata, Caf Telegrama, and Le Coupe. Tenants can look forward to even more culinary options in the near future, as Little Fish, Bar Etoile, and Holy Basil are slated to open as well.

Location

State CA

County Los Angeles

Area C20 - Hollywood

Zoning LAR3

Interior

Fireplace No

Exterior

Parking Features Assigned

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5536006026

Special Listing Condition Standard

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Listed by Roderick 'Rick' Raymundo Marcus & Millichap #01357019

NEARBY SCHOOL & BUSINESS

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